When do you think a deal will be done

Court hears that ED has already filed a notice of Admin.

That's subtly different to ho wit was reported in the BN, which just said they'd retained a firm to act on the club's behalf, should it ever get to that stage.

ED filed for admin but might not get it...

This shit just got serious.....


Told you, he's a knob.

Might as well lose the 12 points this season, and get rid of the high earners quickly at this rate.  Mighty dark days loom ahead... but as Harry Potter found out, you can survive and flourish.

SS's proposed funding in the form of loans to the club.

Kept that fucking quiet.....

And anyway, isn't that why we're in this fucking mess in the first place?

Not good.

asset stripping here we come

Norpig wrote:asset stripping here we come

Vultures are probably at the gates now!

It also brings into question ED's statement that he would only sell to "serious bidders with the club's best interests at heart".

All utter bullshit.

SS are nowt more than a stalking horse to drag all this out, buy time for ED to flog the bits with any value and then "give" the club to his mates in The Truss when there's fuck all left.

It's all coming out now....

If that's all SS can come up with - loans - their business case must depend on trading profitability (to prove that we can be solvent and ergo pay the bills) - but how could that be possible with our wage bill?

Spurious.

Also brings into question what the hell the other "bids" were if that was the best offer.

"Current account"???

Judge grants #BWFC further adjournment but says this is the last time. "The club has stretched judicial discretion."

Talk about dog's leg.....

Breadman wrote:Seriously.......?

You think ED's been conned by Gartside for the last 15 years?

You honestly believe that a man like Davies would be oblivious to the day to day goings on at the club he owns?

Come on, Lusty......FFS!

Yes.....

He has lost millions of his own money, apparently bad investments on various redevelopment projects, got the club 10 minutes away from going out of business. Fat cat directors who nobody knows what they do on a daily basis, handed us off to Sports Shield who can't come with enough money to buy pudding n chips for the staff.....etc. etc.....
Now how many of us would like Eddie to invest our pension funds for us.  Somewhere along the line he has made money with his other businesses presumable they are run by real managers. We can only comment on what we see.

So where are those other bidders?  Did PG blindside ED?  Is the Sports Shield fictitious since they have apparently no money?  The judge must be a Wanderers fan, since I would not have given them any more time hearing all of this.

Now we've finally got some info about the bid/deal ... I'm gobsmacked. Not quite the worst of my suspicions come true, but close enough. 
What the hell can they possibly produce in the time they've bought to give any of us the tiniest inkling of hope for a better than bleak near future?

Hang on a sec......

How the fuck will this work in League One?

Where, under FFP, you can only "lend" the club a very small amount which won't even cover five players' wages?

That'd put us in automatic breach, surely?

And one backer dropping out has nearly killed the deal, so there can't be many others with much money, so even if they tried complying by "gifting" the money, there won't be enough any way.

Why the fuck would any "new" investors come to the Sports Shield table having witnessed all this bollocks?

None of this adds up.

On any level.

I'm surprised the judge went for it because it doesn't appear to make any sense.

Breadman wrote:Hang on a sec......

How the fuck will this work in League One?

Where, under FFP, you can only "lend" the club a very small amount which won't even cover five players' wages?

That'd put us in automatic breach, surely?

And one backer dropping out has nearly killed the deal, so there can't be many others with much money, so even if they tried complying by "gifting" the money, there won't be enough any way.

Why the fuck would any "new" investors come to the Sports Shield table having witnessed all this bollocks?

None of this adds up.

On any level.

I'm surprised the judge went for it because it doesn't appear to make any sense.

That's what I was trying to say. If it's loans the rest has to come from trading profit. And we have 9 players with contracts for next season whose wages will be £5.85 million - and then there's the rest of the squad on top.
Not do-able - so the plan has to have been to sell assets just to stay afloat all along.

That judge though - what a guy! With that kind of commitment to the cause he has to be a contender for our next manager.

deary deary me.

Basically every "involved" party is taking the piss. 

I actually don't believe they ever had an "investor" to drop out.